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Investment platform Titan has officially launched its new actively managed crypto portfolios to U.S. investors, giving market participants additional avenues for accessing digital assets like Bitcoin (BTC) and Ethereum (ETH).
Titan Launches Actively Managed Crypto Basket
Fintech app Titan has launched a new product, dubbed Titan Crypto that will feature a basket of five to 10 cryptocurrencies including BTC, ETH, XLM, and ADA, the company announced Wednesday.
Featuring zero performance-based fees or lock-ups, the portfolio will be actively managed by Titan’s dedicated crypto team and will be available to U.S. residents residing outside of New York state.
According to the firm’s co-founder and co-CEO at Titan, Clay Gardner, there's been the wrong debate around crypto portfolios in the industry, saying:
Titan is Bullish on Ethereum
In July, Titan raised $58 million in a Series B funding round led by venture capital firm bringing its total funding to $75 million. While Anish Acharya, a general partner at a16z, joined Titan’s board of directors.
Since launching in 2018, the fintech startup has grown to manage over $500 million for more than 25,000 clients and is now moving towards crypto offering services.
For the latest crypto offering, Titan will charge 1% of the account value for investors with at least $10,000 or $5 per month for smaller users. This is significantly smaller than the 2% Grayscale charges in its private bitcoin fund but similar to crypto products like those of VanEck.
Interestingly, the crypto fund's biggest holding will not be bitcoin and will include about 30% of the fund. However, Titan is bullish on Ethereum and is allocating 50% of the fund to the cryptocurrency while other tokens like Cardano and Stellar will have smaller shares.